Delayed Interest Paid, Default to Be Averted: Evergrande Update
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China Evergrande Group looks set to avert another default in its biggest test since the property developer’s debt crisis began.
Customers of international clearing firm Clearstream received overdue interest payments on three U.S. dollar bonds issued by Evergrande, a spokesperson for Clearstream said. Investors had been waiting to see if the embattled developer would make the coupon payments totaling $148.1 million before the end of 30-day grace periods on Wednesday.